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How to Rebuild Your Credit After Bankruptcy


There’s no way around it: your credit will take a hit after you file for bankruptcy. However, it’s actually easier to rebuild your credit after bankruptcy than people think. If you are planning on filing for bankruptcy or have already filed for bankruptcy, here are some tips to help you rebuild your credit quickly.

Review your credit report

It’s been estimated that approximately 40 million Americans have errors on their credit reports. Errors on your credit report can harm your credit score. So, after you file for bankruptcy, you should order a copy of your credit report from each of the three credit reporting bureaus. If you see errors on any of your reports, write the appropriate credit reporting company and let them know. This can have a noticeable impact on your credit score.

Make your payments on time

Missing payments is a surefire way to hurt your credit, especially for people who have recently filed for bankruptcy. However, the good news is that making your payments on time will slowly but surely increase your credit score. After eliminating most of your debt in bankruptcy, you should take advantage of the opportunity to rebuild your financial situation. Whether it’s creating a budget, cutting expenses, or automating your payments, you should do whatever it takes to get back on track financially.


Most people don’t file for bankruptcy due to carelessness. Rather, bankruptcy is often the result of unexpected expenses, such as medical bills. Therefore, in order to rebuild and protect your credit after bankruptcy, you should create an emergency savings fund. This can keep you from having to rely on credit when times get hard. After you eliminate most of your debt with bankruptcy, you should make an effort to begin saving.

Use credit responsibly

Although this may seem counterintuitive, using credit after bankruptcy can actually help increase your credit score—if you make your payments on time. Generally, this means that you should pay for small expenses with a credit card—and then pay off the entire balance on your due date. As a bankruptcy filer, you must be extremely careful here—the last thing you want to do is let your debt get out of control. However, if you use your credit in a responsible manner, your score will certainly increase over time.

Contact Our Experienced Chicago Bankruptcy Attorneys

If you’re considering filing for bankruptcy in Chicago, Illinois, you need an experienced Chicago bankruptcy attorney in your corner. At Chicago Bankruptcy Clinic, our experienced and knowledgeable Chicago bankruptcy attorneys will handle all the details of your Chicago bankruptcy case, ensuring that no important details are overlooked. When you come to us for help, you can rest assured that we’ll do everything in our power to achieve a positive outcome in your bankruptcy case. Please contact us today to schedule a consultation with one of our talented Chicago bankruptcy attorneys.

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